SLTY vs. IWMI
SLTY (YieldMax Ultra Short Option Income Strategy ETF) and IWMI (NEOS Russell 2000 High Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.62, they often move in opposite directions. SLTY charges 1.24%/yr vs 0.68%/yr for IWMI.
Performance
SLTY vs. IWMI - Performance Comparison
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Returns By Period
In the year-to-date period, SLTY achieves a -6.01% return, which is significantly lower than IWMI's 13.36% return.
SLTY
- 1D
- 0.65%
- 1M
- -1.73%
- YTD
- -6.01%
- 6M
- -5.54%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWMI
- 1D
- -1.02%
- 1M
- 3.18%
- YTD
- 13.36%
- 6M
- 13.24%
- 1Y
- 34.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLTY vs. IWMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SLTY YieldMax Ultra Short Option Income Strategy ETF | -6.01% | -12.17% |
IWMI NEOS Russell 2000 High Income ETF | 13.36% | 10.04% |
Correlation
The correlation between SLTY and IWMI is -0.62, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 22, 2025 | -0.62 |
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Return for Risk
SLTY vs. IWMI — Risk / Return Rank
SLTY
IWMI
SLTY vs. IWMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Short Option Income Strategy ETF (SLTY) and NEOS Russell 2000 High Income ETF (IWMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| SLTY | IWMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.19 | 1.04 | -2.23 |
Drawdowns
SLTY vs. IWMI - Drawdown Comparison
The maximum SLTY drawdown since its inception was -20.88%, smaller than the maximum IWMI drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for SLTY and IWMI.
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Drawdown Indicators
| SLTY | IWMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.88% | -23.88% | +3.00% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.40% | — |
Current DrawdownCurrent decline from peak | -17.45% | -1.02% | -16.43% |
Average DrawdownAverage peak-to-trough decline | -13.72% | -4.12% | -9.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.02% | — |
Volatility
SLTY vs. IWMI - Volatility Comparison
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Volatility by Period
| SLTY | IWMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.31% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.74% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.42% | 14.84% | +3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 17.89% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 17.89% | +0.53% |
SLTY vs. IWMI - Expense Ratio Comparison
SLTY has a 1.24% expense ratio, which is higher than IWMI's 0.68% expense ratio.
Dividends
SLTY vs. IWMI - Dividend Comparison
SLTY's dividend yield for the trailing twelve months is around 74.24%, more than IWMI's 13.52% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IWMI NEOS Russell 2000 High Income ETF | 13.52% | 14.05% | 8.78% |
SLTY YieldMax Ultra Short Option Income Strategy ETF | 74.24% | 29.68% | 0.00% |
Frequently Asked Questions
SLTY and IWMI have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWMI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWMI is cheaper with a 0.68% expense ratio, compared with 1.24% for SLTY.
SLTY has the higher dividend yield at 74.24%, compared with 13.52% for IWMI.
They also come from different issuers: YieldMax and Neos. Their fees differ too: 1.24% for SLTY and 0.68% for IWMI.
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